White Force IPO is a book building of ₹24.25 crores. The issue is a combination of fresh issue of 31.90 lakh shares aggregating to ₹24.25 crores and offer for sale of 0.00 lakh shares aggregating to ₹0.00 crores.
White Force IPO opens for subscription on July 3, 2025 and closes on July 7, 2025. The allotment for the White Force IPO is expected to be finalized on Tuesday, July 8, 2025. White Force IPO will be list on NSE SME with a tentative listing date fixed as Thursday, July 10, 2025.
White Force IPO price band is set at ₹72 to ₹76 per share. The minimum lot size for an application is 1600. The minimum amount of investment required by retail investors is ₹1,15,200. But it is suggested to the investor to bid at the cutoff price to avoid the oversubscription senerio, which is about to ₹2,43,200. The minimum lot size investment for HNI is 3 lots (4,800 shares) amounting to ₹3,64,800.
White Force IPO Details
| IPO Date | July 3, 2025 to July 7, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹72 to ₹76 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 31,90,400 shares (aggregating up to ₹24.25 Cr) |
| Reserved for Market Maker | 2,88,000 shares (aggregating up to ₹2.19 Cr)Giriraj Stock Broking Private Limited |
| Net Offered to Public | 29,02,400 shares (aggregating up to ₹22.06 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 84,10,000 shares |
| Share Holding Post Issue | 1,16,00,400 shares |
White Force IPO Timeline (Tentative Schedule)
White Force IPO opens on July 3, 2025, and closes on July 7, 2025.
| IPO Open Date | Thu, Jul 3, 2025 |
| IPO Close Date | Mon, Jul 7, 2025 |
| Tentative Allotment | Tue, Jul 8, 2025 |
| Initiation of Refunds | Wed, Jul 9, 2025 |
| Credit of Shares to Demat | Wed, Jul 9, 2025 |
| Tentative Listing Date | Thu, Jul 10, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 7, 2025 |
White Force IPO Lot Size
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares there of. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,43,200 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,43,200 |
| HNI (Min) | 3 | 4,800 | ₹3,64,800 |
| Lot Size Calculator | |||
White Force IPO Promoter Holding
The promoters of the company are Shraddha Rajpal and Nalini Rajpal.
| Share Holding Pre Issue | 84.00% |
| Share Holding Post Issue | 60.89% |
White Force IPO Anchor Investors Details
White Force IPO raises ₹6.60 crore from anchor investors. White Force IPO Anchor bid date is July 2, 2025.
| Bid Date | July 2, 2025 |
| Shares Offered | 8,68,800 |
| Anchor Portion Size (In Cr.) | 6.60 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 7, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 6, 2025 |
Happy Square Outsourcing Services Limited Financial Information (Restated)
Happy Square Outsourcing Services Limited's revenue increased by 40% and profit after tax (PAT) rose by 34% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 39.64 | 28.38 | 14.32 |
| Revenue | 97.68 | 69.54 | 52.80 |
| Profit After Tax | 5.90 | 4.39 | 1.79 |
| EBITDA | 9.45 | 6.64 | 2.85 |
| Net Worth | 12.48 | 6.57 | 2.14 |
| Reserves and Surplus | 12.47 | 6.52 | 2.13 |
| Total Borrowing | 14.59 | 10.98 | 6.57 |
| Amount in ₹ Crore | |||
About Happy Square Outsourcing Services Limited
Incorporated in April 2017, Happy Square Outsourcing Services specializes in HR outsourcing, focusing on recruitment, payroll, onboarding, and flexible staffing.
The company is involved in a tech-based human resource outsourcing business focusing on end-to-end solutions.
The company's services include Recruitment, Payroll, Onboarding and flexible staffing.
The company is an ISO 9001:2015 certified company.
The company utilizes a large talent pool to meet staffing needs for businesses in India and the US, emphasizing technology-based solutions and a comprehensive network to source qualified candidates, acting as a third-party provider for workforce management through robust recruitment and HR capabilities.
Happy Square operates in both the Indian and US markets, understanding the specific needs of each region for staffing solutions.
As of July 31, 2024, the company has 4,225 personnel deployed at various locations for its clients.
As of July 31 2024, the company had 151 department employees.
Competitive Strength
- Customer Satisfaction and long-standing relationships with its customers.
- Experienced Promoter and Management Expertise.
- Scalable Business Model
- Catering to diversified industrial verticals.
- Strong financial position and good track record of financial performance.